3021 BEALS Street Detroit, MI 48214

Listing agency Bellabay Realty Tri Counties n***@comcast.net Show Phone

Listed by Natasha C Richards · License #6502385914 Show Phone

Added: Apr 17, 2024 Updated: May 13 at 3:30AM Checked: Jul 22 at 4:06PM

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MLS# 20240024976

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Investment Insights

Based on property information with market context.

This property presents an infill opportunity within the West Village Neighborhood Enterprise Zone (NEZ). The offering includes five lots located at 3021, 3027, 3011, 3017, and 3035 Beals Street. The development should define space in a meaningful way and complement the community. The building design should provide a diverse residential stock and density at a variety of price points and ownership types, including rental and owned housing. Housing types should support opportunities for neighborhood commercial investments and job creation, stimulating growth in the local economy. The Detroit Land Bank Authority (DLBA) is entitled to a tax capture for the five tax years subsequent to transferring ownership of the property. This tax capture may be incompatible with tax abatements otherwise available to the purchaser. The DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and the effect of any tax abatement on the purchase and development financing. The total lot size is 0.07 acres.

Key Highlights

• Infill opportunity in West Village Neighborhood Enterprise Zone (NEZ).
• Includes 5 lots: 3021, 3027, 3011, 3017, 3035 Beals.
• Aims to provide diverse residential stock and density at a variety of price points and ownership types.

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FAQs

What type of property is this?

Residential land & home lot - Infill opportunity in West Village Neighborhood Enterprise Zone.

Where is this residential land & home lot located?

The property is located at 3021 BEALS Street Detroit, MI.

What is the asking price?

The asking price for this property is $50,000.

What are key features of this property?

This property features: Infill opportunity in West Village Neighborhood Enterprise Zone (NEZ).; Includes 5 lots: 3021, 3027, 3011, 3017, 3035 Beals.; Aims to provide diverse residential stock and density at a variety of price points and ownership types.